Singapore  Singapore

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Listing Id: 30298 Last Refreshed: 06/12/2023 Total Views: 1173

(Expired)Homegrown Electric Bicycle Company Looking To Franchise Overseas

GeylangBicycle Shops
Asking Price: No Takeover Fee
Business For Takeover
Look For Investor
Look For Partner
Drive Bikes

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  • Overview
  • Reason For Sale
  • Description
  • Business Operation

Overview

  • Premise Type Neighbourhood
  • Premise Size 550 sqft / 51 sqm
  • Monthly Rental S$1,900
  • Rental Desposit N/A
  • Revenue S$20K - 50K
  • Liability N/A
  • Gross Profit N/A
  • Net Profit S$5K - 10K
  • Stock N/A
  • FFE N/A
  • Payable N/A
  • Receivable N/A
  • Owner Role Full Time
  • Staff 5
  • Established 1989
  • Source Direct Seller

Reason For Sale

Looking to expand and franchise overseas

Description

Drive Bikes is an established distributor of the popular electric bicycle (ebike), Eco Drive that is widely popular in Singapore, both by food delivery personnel and recreational cyclists. Our company was one of the first few to bring ebikes to Singapore in 2018, and we have been improving our ebikes ever since.

We currently operate one brick-and-mortar store as the main distributor of Drive products, alongside our own e-commerce website. We are also present on other e-commerce sites such as Lazada, Shopee and Carousell. Our Drive products are sold to other retailers across the island.

Given the growing popularity of electric vehicles and other more sustainable forms of transport in recent years, we are looking to expand overseas and capitalise on this demand. Drive Bikes is looking for partners outside of Singapore with a good knowledge of their local market conditions to support our overseas expansion. We are open to expanding to any country, but prefer the following countries: US, UK and Japan.

Business Operation

We currently operate from one brick-and-mortar store as well as one main warehouse and service centre.
Facilities
In Singapore, we face competition from several other ebike manufacturers including Jimove, MOBOT and Kudu.
Competition
Given the increased demand for sustainable modes of transport and electric vehicles, ebikes have the potential to be a more accessible and sustainable mode of transport for a variety of terrains and users.
Expansion Potential
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